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Taj Mahal hotel to be auctioned, as Tatas lose case in Supreme Court

by IBNS 20 Apr 2017, 09:47 am

New Delhi, Apr 20 (IBNS) : The Supreme Court on Thursday ordered that Delhi's iconic Taj Mahal Hotel must be auctioned as the Tatas, currently managing the property, lost a case over lease holding, NDTV said.

The Tata group, which wanted its lease to be extended without any auction, will however, be  given six months as "breathing time" to vacate if its bid in the online auction is not the winning offer,  the court said.

The Tatas had been given a 33-year lease for the property. They were given nine extensions after the contract with the New Delhi Municipal Corporation ended in 2011. 

 Last month, officials at a meeting headed by Chief Minister Arvind Kejriwal concluded that the hotel would be auctioned.

Challenging the decision, the Tatas moved the Supreme Court, which, however, rejected their plea.